Building materials distribution giant US LBM has reportedly signed an agreement for Bain Capital Private Equity to acquire a majority stake in the company, according to recently published reports.
US LBM will continue to operate under the leadership of President and CEO L.T. Gibson and the current management team.
Founded in 2009 with 16 locations in three states, US LBM has become a national distributor of specialty building materials, operating more than 250 locations and 37 operating divisions. US LBM had sales of $3.5 billion in 2019.
Since its founding, US LBM has opened more than 30 greenfield locations, including six in 2020.
The Bain transaction was due to close last month and is subject to customary closing conditions, including requisite regulatory approvals.
US LBM has also acquired Ridgefield Supply Company, a building products dealer located in Ridgefield, CT.
Founded in 1883, Ridgefield Supply operates an 89,000-square-foot facility in Ridgefield, which is comprised of a lumberyard, warehouses, a hardware and paint store, window and millwork showrooms, and an employee-training center. Serving customers in Fairfield County in Connecticut and Westchester County in New York, Ridgefield Supply’s product mix includes lumber, paint, windows, doors, millwork, decking and interior and exterior trim. Glen Albee will continue to lead Ridgefield Supply’s day-to-day operations as president.
Learn more at www.uslumber.com.
